Investors quickly showed their confidence in biotechnology company Amgen when it announced promising study results for denosumab, an experimental treatment for bone loss. However, analysts predict that Amgen will have a difficult time dethroning Novartis, the company behind Zometa and Amgen’s direct competitor in the bone-loss treatment market.
 
Amgen’s stock rose 15 percent in early trading, settling at $59.50 a share at the end of the day. Industry experts are worried that the sudden rise in Amgen’s stock has set expectations for the company that it might not be able to meet. Denosumab will not even be approved by the FDA …read more

The Food and Drug Administration has ordered pharmaceutical giant Amgen to revise labels on its growth factor products, which stimulate the production of blood cells and are used in patients with low blood counts undergoing treatment for diseases such as kidney disease and cancer. Some data released in the past year has shown that these drugs may actually be dangerous for cancer patients if used too prolifically. Sales of Amgen’s products have been falling since this data was released; moreover, Medicare has cut back coverage/reimbursement for some uses of the drugs and narrowly restricted their use — these drugs are …read more